AstraZeneca Secures ₱37M VAT Refund from BIR for Exempted Medicine Imports

• The Court of Tax Appeals ordered the Bureau of Internal Revenue to pay AstraZeneca ₱37.15 million or issue a tax credit.
• The ruling was due to illegal VAT collection on imported medicines exempt under Philippine law.
• The case involved drugs for diabetes, high cholesterol, and hypertension imported in 2020.
• AstraZeneca initially sought a refund of ₱42.47 million, but some medicines were not VAT exempt.
• The court confirmed AstraZeneca filed on time and followed all procedures.
• A ₱1.92-million discrepancy was attributed to mixed shipments.
• VAT exemptions for certain medicines began on January 1, 2020, under Republic Act 11467.

Source: bilyonaryo.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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